1 posts from May 2, 2013

May 02, 2013

An article in the Sun Sentinel this morning says employers are beefing up perks to keep their talented rosters intact. One staffing recruiter said the pendulum has swung back and that bonuses are back in vogue. Another company said it's going to offer employees additional training.

To that, I say, "Hogwash!"

While some employers in very specific industries might be saying outloud that they are increasing benefits, I'm having trouble believing its true in most industries and for most businesses.

Is your employer becoming more generous?

To me, It just doesn't seem like the economy has come back enough for employers to want to take on any upfront costs for more or better benefits.

Just this morning, the Daily writes:

Wondering why you haven't seen the performance you've hoped for from your 401(k) lately? A big reason may be that your employer is simply not putting what it used to into the account.

One of the best perks of 401(k) plans is the matching contribution that employers traditionally make when workers save money in the retirement accounts. Yet these days, fewer companies are making 401(k) matches: The number of companies offering matching has fallen by almost 7 percent since 2009, according to a study from American Investment Planners. The trend of cutting back matching is just one way employers are taking the scalpel to their benefits budgets. The AIP study found that 6 percent of 401(k) plans have been terminated outright.

Are times changing after years of layoffs and high unemployment? Maybe a little, but not much. We know it's costly to replace an employee. I just don't think most employers believe they can't easily replace most workers -- not yet!

Of course, there are benefits that help retain top talent without a big investment -- smart employers have figured that out.

What are those perks?

Rosemary Haefner, Vice President of Human Resources at CareerBuilder, "Being compensated well will always be a top consideration, but we're seeking work-life balance, telecommuting options and learning opportunities outweigh other job factors when an employee decides whether to stay with an organization."

So readers, what are your thoughts? Do you think companies are beefing up perks? Do you think they have realized yet that they will need to do that to keep their good workers?